It formed on October 16 in the western Caribbean Sea from a tropical wave, and strengthened to reach peak winds of 70 mph (110 km/h) before striking Cuba.

On October 24, with the assistance of a cold front off the coast of the eastern United States, Gilda transformed into a subtropical storm, becoming very large and strong.

As a subtropical storm, Gilda brought gusty winds and high waves to much of the east coast of the United States, causing minor beach erosion and coastal property damage.

[2] By 0000 UTC on October 18, the depression attained tropical storm status about 100 mi (160 km) northwest of the Cayman Islands, after which it was named Gilda by the National Hurricane Center (NHC).

Shortly thereafter, Gilda made landfall near the border of the present day Cuban provinces of Sancti Spíritus and Ciego de Ávila.

[3] Tropical Storm Gilda weakened slightly over Cuba, crossing the island in less than twelve hours before emerging into the Atlantic Ocean early on October 19.

[3] Now a tropical depression, Gilda remained nearly stationary for another 24 hours before accelerating northeastward,[3] under the influence of an upper-level trough exiting the east coast of the United States.

The city of Morón, located along the northern coast of Cuba, recorded 6.13 inches (155 mm) of rainfall in the 6 hour period prior to the storm passing the area.

[1] When Gilda was forecast to move near southeastern Florida, gale warnings were issued from North Key Largo to Fort Lauderdale.

Rough seas affected the Florida coastline for about 72 hours, causing moderate coastal property damage and beach erosion.

[1] After becoming a large subtropical cyclone, gale warnings were issued at various times from Cape Hatteras, North Carolina to the mouth of the Merrimack River in Massachusetts.

High surf and minor beach erosion were reported along the coastline, and gale-force winds were observed from North Carolina to New Jersey.